Expecting a stronger 2H21F
■ 1H21 net profit was slightly better than expected, at 53.2% of our full-year
■ Grand Venture Technology Ltd (GVTL) has guided that 2H21F will be
stronger than 1H21.
■ Reiterate Add with higher S$1.41 TP, as revenue increase with higher wallet
share and more assembly work; margins to improve with economies of scale.